The level of manufacturing activity in Canada increased slower than expected in February, according to a private report released Thursday.
The Richard Ivey School of Business said its Purchasing Manager's Index increased to 51.9 from the previous month's reading of 50.8.
Economists had expected the measure to increase to 55.
Following the report, which is considered a good indicator of overall economic health, the Canadian dollar retreated from a 6-week high it hit earlier in the day against its U.S. counterpart, with USD/CAD rising 0.09% to hit 1.0329.